Financial Analyst IV - Retirement Systems

Financial Analyst IV - Retirement Systems

The Retirement System of the City of Detroit, Investment Section, is looking to add a Financial Analyst IV to our team. The Financial Analyst IV will work within the Investment Team responsible for middle and back-office operations, settling trades and transactions, maintaining internal databases and systems, reporting on performance, and working closely with counterparties and custody banks. Work closely with the diligence function of the Investments Team before and after each investment is funded, as well as with the pension plan's finance function on accounting and audits.

Financial Planning and Analysis consists of three main areas : performing the annual and long-term financial planning processes, including project management responsibilities, development and analysis of budgets and forecasts, and design and compilation of presentation materials for internal and external audiences; conducting ongoing analysis of organizational, financial, and operational performance, analysis related to specific projections or initiatives (including restructuring or efficiency), and benchmarking performance against peer organizations; and designing and producing a suite of reporting materials related to organizational financial and operational performance for both internal and external audiences.

Financial Analysts establish forecasts for the City and its Agencies by projecting future financial outcomes using historical financial and operational data, identified initiatives, external markets and economic conditions. Financial Analysts project revenues and expenditures for a series of years using a set of assumptions established by senior leadership. Financial and operational performance is measured by analyzing Income Statements, Balance Sheets, Statements of Cash Flow, general ledger accounts, cost center and other detailed financial and operational data. Financial Analysts use this data to evaluate, track, and report on the targets and measures of the City and its Agencies' goals, objectives, and benchmarks. Financial Analysts compare budget to actual data, calculate variances, ratios, and trends and identify performance of City Agencies in comparison to the City's budget. Financial Analysts, utilizing operational metrics, charts, graphs and spreadsheets, present findings and recommendations to the Chief Financial Officer (CFO) and identify risks associated with a City Agency's particular strategy or project.

Financial Analyst IV This is the advanced level. The Financial Analyst may function as a lead analyst or head analyst. At this level, Financial Analysts are responsible for overseeing the work assignments of other professionals or have regular assignments which have been recognized as having significantly greater complexity than those assigned at the experienced level. Based on the program functional area, parenthetical titling may be used when special subject matter knowledge of a specific functional area is required.

Major Duties and Responsibilities :

• Research and resolve investment operations and accounting issues in a timely and accurate manner
• Identify, review and evaluate prospective investment opportunities
• Ensure the integrity of performance data
• Generate and reconcile weekly, monthly, quarterly and annual investment reports
• Administers daily oversight of investment and settlement operations
• Process investment cash flows and assist with cash forecasts
• Maintain ongoing relationships with the custodial banks, vendors, and internal groups
• Prepare materials for Investment Committee meetings and Board meetings
• Track and maintain investment-related information on central spreadsheets and databases
• Manage operations requests from Investment and Pension Officers
• Partners with City Agencies to oversee the development of multi-year operating and capital plans, reserve forecasts, and long range financial strategies
• Manages the strategic financial modeling, annual target setting, and annual business planning process for City Agencies to assess financial implications and support complex business decisions
• Informs investment decisions by analyzing financial information to forecast City, industry, or economic conditions
• Prepares plans of action for investment, using financial analyses
• Recommends, develops, implements, and monitors financial and operational policies, guidelines, processes, procedures, internal controls, and performance measures
• Analyzes and evaluates the financial and business operations and transactions engaged in by many different departments / agencies
• Engages in all aspects of setting and refining strategy, major strategic analyses, and the operating budget for City Agencies
• Performs cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods
• Evaluates monthly financial and operational performance against plan, prior year, and forecast
• Drives functional enhancements to planning and forecasting processes and activities and implements best practices
• Analyzes and reviews prior year expenditures, grant balances, and fund sources and prepares detailed financial forecasts, cost projections, and recommendations based on actual results
• Prepares, provides, reviews, and responds to requests and inquiries regarding financial, expenditure, revenue / fund status, appropriation transfers, supplemental appropriations, and variance reports to management to enable financial and budgetary monitoring and control
• Prepares regular and ad-hoc financial and operational reports
• Consults with managers to ensure that budget adjustments are made in accordance with program changes
• Performs special projects and other duties as assigned

Minimum Qualifications :

These minimum qualifications establish the education, training, experience, special skills, and / or license(s) which are required for employment in the classification. Minimum qualifications increase based on the level of the position. Note : additional qualifications (i.e., special conditions) may apply to a particular position.

Education : For all Financial Analysts it is a requirement to have completed a bachelor's degree from an accredited college or university, with major course of work in accounting, business, public administration, or a closely related field. Such education must include at least twenty-four (24) semester (36 terms) credits of coursework in accounting, finance, or economics.

Experience : In addition to the minimum education requirements, the following experience requirements also apply :

Evaluation Plan :

Interview : 70% Evaluation of Training, Experience & Personal Qualifications : 30% Total of Interview and Evaluation T.E.P : 100% Additional points may be awarded for :

Licensing and Certifications :

Possession of a Certified Financial Planning and Analysis (CFPA) certificate sponsored by Association of Finance Professionals may be substituted for one year of Financial Analyst II experience. There may be a requirement for some positions to have or be working on achieving CFPA certification. Applicants may be subject to background, criminal, and credit checks.

Knowledge, Skills and Abilities :

At the advanced level knowledge requirements might include comprehensive knowledge of : financial theory and principles and of business management operations and practices; concepts, principles, practices, and methods of budget formulation, enactment and execution, accounting and finance functional area(s); obtaining, compiling, and summarizing narrative information and quantitative data for use by others; economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data; federal, state, and local legislation, regulations and ordinances affecting preparation, review, and implementation of operating and capital budget requests and financial analysis; established work methods and procedures; pertinent regulatory or statutory provisions in performing assigned financial and operational analysis and evaluation work; operation and organization of the Departments and Agencies appropriate to the affected position; techniques commonly used in locating errors in financial and operational reports and statements; structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar; personal computer capabilities and the application of computer systems to issues of format and content in City and departmental financial management; mathematical and statistical procedures generally employed in the fields of financial asset investment, accounting, and budgeting to verify data, to project costs, to budget, etc. Skill in : identifying, synthesizing, and evaluating complex budget related issues and assignments, consolidating information from a variety of sources, and selecting appropriate analytical approaches; presenting concise financial and operational information (orally, written, and / or using PowerPoint or Word) to a variety of audiences; use of Microsoft Office (i.e. Word, Excel, Access, PowerPoint, and /